Grain Highlights 03.06.2022

04 Jun, 2022
Grain Highlights 03.06.2022
SovEcon has raised its forecast for wheat exports from Russia in 2022/23 to 42.3 million tons (+1.3 compared to the previous estimate).

- SovEcon has raised its forecast for wheat exports from Russia in 2022/23 to 42.3 million tons (+1.3 compared to the previous estimate). The wheat production is expected to reach 87.4 million tons. The total grain export is projected to reach 54.5 million tons.

- In the week starting from 08.06.2022, the export tax on Russian wheat will be 129.2 USD/ton (121.2 a week earlier). The export tax on barley remains unchanged at 76.5 USD/ton and the export tax on corn will be 78.7 USD/ton (73.9).

- As of June 2, 2022, 26.8 million hectares of cereals have been sown in Russia (April 28, 2021), including 2.7 million hectares of corn (2.9). 8.7 million hectares (8.9) were sown with sunseed.

- As of June 2, 2022, 13,182 million hectares of spring cereals have been sown in Ukraine, which is 77.9% of the plan. 4.553 million hectares (83.2%) were sown with corn. 4.574 million hectares (70.3%) were sown with sunseed.

- Over the period of 01.07.2021 - 30.05.2022, 47.105 million tons of grain were exported from Ukraine, including 18.573 million tons of wheat, 5.679 million tons of barley and 22.384 million tons of corn.

- As of 30.05.2022, 67% of winter wheat crops in France are in good and excellent condition (69% last week and 80% in 2021). 91% (91% and 90%) of corn crops are in good and excellent condition.

- According to the forecast of the Buenos Aires Grain Exchange, ​​wheat areas in Argentina will be 6.5 million hectares in 2022/23 (6.6 in the previous estimate). So far, 13.9% of the planned areas have been sown. The soybean production is expected to reach 43.3 million tons for the 2021/22 season (42) and the corn production is estimated at 49 million tons, with 32% of the corn areas harvested so far.

- According to an estimate by Oil World, canola exports from Australia were 681.00 tons in April (855,000 in March +51% compared to April 2021). Over the period of January - April, exports reached 3.74 million tons (2.49). The largest buyer in April was the EU with 356,000 tons (648,000 in March). EU has bought 2.58 million tons since the start of the season (+0.4).

- Egypt is negotiating with India for the supply of wheat in exchange for goods needed by the Asian country.

- Algeria has purchased 90,000 tons of wheat at a price of 480 USD/ton C&F and delivery within July - August.